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Alpari UK Introduces Smaller Price Increment for XAUUSD & XAGUSD

The British subsidiary of the global forex and CFD brokerage, Alpari, recently announced that it will be reducing significantly the minimum price increment for gold and silver trading over MT4, effective from Monday, April 8th. 

From 1 US cent, the price increment will go down to 0.1 US cent, that way enabling traders to benefit from way smaller fluctuations in the market. This modification is expected to make the broker's gold and silver spreads more flexible, while also giving present and prospective clients access to more price updates.
In layman's terms, what this means is that once the change is instituted, your MT4 platform will be showing price movement up to the third figure after the decimal point – e.g. 1573.391, 1573.392, 1573.393 and so on – and not up to the second as is most often the case.
Alpari brings your attention, however, to the fact that if you want to match exact instant execution price, it is very likely that you'll be experiencing requotes. A requote is what we call a situation where the broker is unable to execute an order at the price the client has specified. This is usually due to an all too quickly moving market around a big news release, for example, so by the time your request has been received, the market has changed so drastically that the deal cannot be carried through. To avoid the like disruptions in your trading, Alpari recommends that you set up deviation in MT4 to 50 when trading XAUUSD or XAGUSD.
Your profit or loss will be calculated by simple rounding. So if your loss is equal to 5.4 US cents, it'll be rounded down to 5 cents. Alternatively, if your profit is 5.6 US cents, you'll be pocketing a rounded up sum of 6 cents.
Alpari's current gold and silver spreads stand at 50 cents and 4 cents respectively. While this is considered somewhat standard, there are other brokers out there with way more competitive conditions. Just recently, UK-based ICM Capital brought their XAUUSD spread down to 40 cents; FXDD's cut theirs to 20 cents;'s offer 35 cents and OANDA – 25 cents. Still, there are certain benefits in having access to yet another digit in a broker's quotation.
First, it makes the price estimation much more accurate and therefore gives traders, and scalpers in particular, more room to play. It is especially suitable for those who trade bigger volumes. Why? Because one more figure can give traders a discount on the spread, albeit a small one, but if you're working with large sum sums, this could mean saving thousands of dollars on spreads.

About Alpari UK

Alpari (UK) Limited is a one of the leading international brokers offering forex, precious metals and CFD trading, as well as spread betting. Founded in 1998, today the broker is based in London, UK, and maintains subsidiaries in Germany, Japan and India as well as a Representative Office in China.
Alpari’s customers can take advantage of excellent trading conditions: the spreads of the broker are relatively tight, the execution is very fast, and a team of well-prepared customer support representatives is available to address any question you may have.
TAGS: alpari  smaller price increment  gold  silver  forex  trading  broker  trader 

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